BENGALURU: With increasing institutional participation and pro-crypto stance by US President Donald Trump's administration, Bitcoin has touched an all-time high of over $1,18,000 on Friday, and is nearing the $120k mark.
Experts are of the view that with Ethereum's rise of over 5%, both these assets are fuelling optimism among users. On Friday evening, Bitcoin was trading at over $1,17,500.
Edul Patel, Co-founder and CEO of Mudrex said BTC marked a 101% yearly gain, outperforming most asset classes. The Fear & Greed Index now signals ‘greed,’ reflecting strong investor sentiment and sustained buying interest. Additionally, institutional participation remains a key driver, with $1.52 billion flowing into crypto funds over the last five trading days. Major altcoins like Ethereum and Solana also rallied up to 10%, supporting the broader market uptrend. If the current trend holds, Bitcoin could target $120,000, with immediate support seen at $111,500.
Record US equity performance, a sharp rise in money supply, and expansive fiscal policy, particularly the 'One Big Beautiful Bill Act,' are key drivers of this surge, said Ryan Lee, Chief Analyst at Bitget Research. "The Congressional Budget Office projects this legislation will add $3.3 trillion to the US deficit over the next decade, amplifying expectations of continued monetary expansion. Ethereum is also gaining strength, supported by sustained whale accumulation and renewed optimism under a crypto-friendly US administration. ETH could test $3,000 by the end of July, though market volatility remains a factor," he added.
Macroeconomic shifts like a weaker dollar, rising treasury demand, and sovereign credit downgrades are further positioning BTC as a hedge. With regulatory clarity improving and Coinbase entering the S&P 500, Bitcoin’s case as a mainstream asset has never looked stronger, said Himanshu Maradiya, Founder & Chairman, CIFDAQ.
India can become a global leader in crypto innovation with smart regulations, policy clarity, and support for homegrown innovation, said Ashish Singhal, Co-founder, CoinSwitch. He hopes that the upcoming crypto discussion paper will reflect this direction.
India really can’t afford to be on the sidelines and a time bound plan to regulate crypto in India is the need of the hour. On the investor side, it’s encouraging to see most portfolios in green. Stay informed, diversified, and cautious in this fast-moving market, he added.
Meanwhile, crypto exchange CoinDCX on Friday released its June 2025 Transparency Report, disclosing Rs 14.58 crore paid in TDS to the government. The report also revealed that CoinDCX’s Crypto Investor Protection Fund (CIPF) now stands at Rs 60.08 crore, up by 20% since its launch a year back.
With a registered user base reaching 1.97 crore as of June 2025, CoinDCX reveals that its all holdings stand at USDT 584.2 million.